"After considerable thought, introspection and conversations with my family, I have decided to resign from my position as president in order to initiate my retirement on October 11, 2012," Ammons wrote in his letter.

Ammons also said that with the help of the board, he had put together a team of administrators who could "meet the many challenges that the university faced with full force."

He said he is "determined to move all of the major challenges toward resolution and move our university toward success."